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HomeMy WebLinkAboutORD 2007-047 2006-2008 ~r o. wt COUNTY OF HAWAII STATE OF HAWAII ~TE'Q •N jI~© BILL NO. 4s ORDINANCE NO. 0'7 4'7 AN ORDINANCE AUTHORIZING THE MAYOR OF THE COUNTY OF HAWAII TO ENTER INTO AN INTERGOVERNMENTAL AGREEMENT FOR A STATE WATER POLLUTION CONTROL REVOLVING FUND LOAN FOR WASTEWATER PUBLIC IMPROVEMENT PROJECTS; AND AUTHORIZING THE ISSUANCE OF $6,747,000 GENERAL OBLIGATION BONDS OF THE COUNTY OF HAWAII FOR THE PURPOSE OF FINANCING QUALIFIED WASTEWATER PUBLIC IMPROVEMENTS OF THE COUNTY OF HAWAII BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: SECTION 1. Request for Loan. The County of Hawaii, pursuant to Section 342D- 54, Hawaii Revised Statutes, will be submitting an application for a State Water Pollution Control Revolving Fund Loan (SRF Loan) to the Director of the Department of Health, State of Hawaii, to finance the construction of the wastewater projects listed in "Exhibit A". Under the terms and conditions anticipated with regard to such SRF loan, the County shall repay, over a term of twenty years, the principal amount, which shall not exceed $6,747,000, at a fixed rate of interest which shall not exceed the Bond Buyer's 20- yeargeneral obligation bond issue. SECTION 2. Authorization of MaVOr. The Council hereby authorizes the Mayor to execute all necessary intergovernmental agreements and documents between the State of Hawaii and the County of Hawaii, relating to the SRF to finance the construction of the wastewater projects listed in "Exhibit A". SECTION 3. Pledge of the County's full faith and credit. The County also pledges its full faith and credit including but not limited to the County's general taxing power, as security for repayment of the loan, payment of interest, payment of any loan fees, and including a covenant to exercise the County's authority as needed. The principal and interest payments, and any loan fee payments, shall be a first charge on the General Fund of the County. SECTION 4. Effective Date. This Ordinance shall take effect upon its approval. Introduced By: COUNCIL MEM E TY OF HAWAII xilo ,Hawaii Date of Introduction: March 9, 2007 Date of 1St Reading: March 9, 2007 Date of 2"d Reading: March 21, 2007 Effective Date: April 4, 2007 RE.FEFEidCF: Comm. 16,E-- EXHIBIT A WASTEWATER PUBLIC IMPROVEMENT PROJECTS (SRF FUNDED) Project Amount Department of Environmental Management: North Kona Sewer $3,104,000 North Kona Effluent Reuse Upgrade $3,643,000 OFFICE OF THE COUNTY CLERK County of Hawaii Hilo, Hawaii Introduced By: Dominic Yagong ROLL CALL VOTE Datelntroduced: March 9, 2007 AYE3".~1 S ~ E~X First Reading: March 9, 2007 Ford X Published: March 17, 2007 Higa X •`;S;{,: Hoffmann X REMARKS: Ikeda X Jacobson X Naeole X Pilago X Yagong X Yoshimoto X B 0 1 0 Second Reading: March 21, 2007 To Mayor: March 28, 2007 ROLL CALL VOTE Returned: April 4, 2007 AYES NOES ABS EX Effective: April 4, 2007 Fard X Published: April 23, 2007 Higa X Hoffmann X REMARKS: Ikeda X Jacobson X Naeole X Pilago X Yagong X Yoshimoto X 9 0 0 0 I DO HEREBY CERTIFY that the foregoing BILL was adopted b e Coun Council published as Indicated above. ~ APPROVED AS TO ~~'e~~ FORM AND LEGALITY: DEPUTY CORPORATION COUNSEL ~ COUNTY OF HAWAII J COUNTY CLERK Date Bill No.: 9 5 ~~II~4? C-169/FC-58 pprove Disapproved this `t dam, Reference: Ord No.: 0~ of rl~ , 20~. YOR, C /t h OF HAWAI `I